Second Part

Question 1

Extension strategies

Answer 1

Methods used to lengthen the life of a product

Question 2

Product portfolio

Answer 2

(product mix) range of products a business is currently marketing

Question 3

Boston matrix

Answer 3

2-2 matrix that describes products according to the market has any potential for growth

Question 4

Early adopters

Answer 4

Consumers Who are keen to buy New products as soon as they are launched

Question 5

Cost-plus or cost - based pricing

Answer 5

Adding a percentage (the mark-up) to the costs of producing a product to get the Price

Question 6

Mark-up

Answer 6

Percentage added to costs that makes a profit for a business when setting the Price

Question 7

Mark-up

Answer 7

Percentage added to costs that makes a profit for a business when setting the Price

Question 8

Competition based pricing

Answer 8

Pricing strategies based on the prices charged by

Question 9

Destroyer or predatory pricing

Answer 9

Setting a low Price until rivals have gone out of business

Question 10

Loss leader

Answer 10

Products sold below costs to draw its customers